Artemis Gold (ARTG) Corporate Presentation summary

Strategic positioning and asset overview

• Blackwater Mine is one of Canada's largest gold mines, now in commercial production with 8 million ounces of gold reserves and reported AISC of US$828/oz, among the lowest globally.

• Over $200 million invested since 2020 with no equity dilution during construction; board and management own 39% fully diluted.

• Located in British Columbia, a Tier 1 jurisdiction with strong infrastructure, stable regulatory environment, and significant local and Indigenous support.

• First gold poured in January 2025, commercial production declared in May 2025, and plant operating above design capacity.

Operational and financial performance

• Q3 2025 saw gold production of 60,985 oz, up from 50,623 oz in Q2, with mill averaging 101% of design capacity and gold recoveries at 87% in August and September.

• Q3 2025 AISC margin was US$2,374/oz (72% of cash revenue), with cash costs at US$661/oz and AISC at US$840/oz.

• Net income for Q3 2025 was $110.9M, with adjusted EBITDA of $211.4M and strong cash flow from operations.

• Paid down $67M of debt in Q3 2025, refinanced project debt into a $700M revolving credit facility, and ended Q3 with $317M in liquidity.

Growth initiatives and expansion plans

• Phase 1A construction began in September 2025, targeting a 33% increase in plant throughput to 8Mtpa by Q4 2026, funded through operating cash flow with a payback of less than 6 months.

• Phase 2 expansion is being optimized and accelerated, with major mill orders placed and an investment decision expected by end of 2025; construction to start Q2 2026.

• Resource expansion and regional exploration underway, with a $5M drill program launched in October 2025 across a 1,490 km² land package.